All Forum Posts by: Bojian Li

@Moshe H.

Maybe a little, but I feel that with a project this big it's probably a better idea to leave most of the stuff to the contractors. I'm down for doing some smaller stuff (things that are harder to mess up) myself.

I think costs are somewhat the same, but I would need to connect with more people and ask around, as right now RE is my side hustle.

I am definitely trying to absorb and retain as much information as I can from this wonderful community!

@Allyssa Compton

Yes I would be open to BRRR this property as well since rent around this area is pretty good. I have only recently joined BP and started looking at the market around the area.

I currently have no "team" to speak of and I feel like I would need to get in contact with a lot more people as I have not really had the opportunity to connect with other people at the moment.

It could quite possible be a tear-down, and no I don't have an agent yet. I would appreciate it very much if you could put me in touch with someone that you know.

Currently I'm not in a rush to invest as I've just found BP about 2 weeks ago, and I've just been educating myself so far and learning the basics. The ideal thing for me I feel would be to BRRR/multi-family, however I haven't found any good deals for multis around here currently.

Thank you both for taking your time out to help me! :)

I'm a first time investor looking to get started in REI. At first I was looking to buy an MFR and house hack it, however while browsing locally I found a foreclosure that could possibly be a great deal.

It's a foreclosure for about 25k; 4 beds and 2.5 baths 2500+sqft. This is a complete gut reno, however, arv should be around 170-200k as that is what similiar homes around the area is selling for. 

Now if I follow the 70% rule I have about 94-115k for costs as well as reno right? 

Is this a good deal/should I go for it?

Any advice would be much appreciated.

Also looking to connect with anyone in the Hudson Valley area in NY.

Much thanks.